HOLY $HAL, Its About To Tank! Look At This Trade Setup...

Posted by
Gareth Soloway
Thursday, June 30, 2016, 11:41AM ET

Read 1466 times

Halliburton Company (NYSE:HAL) has rallied for is third day in a row. The stock is currently trading at $45.25 +0.65 (+1.50%). There are many bulls on board but they are all wrong. The stock is set to fall sharply in the next few weeks, collapsing to a probable target of $37.25. Below are the reasons this stock will collapse starting from its current level.

1. HAL making lower highs.

2. Price into key resistance trend line

3. Oil weak and more downside likely on the commodity.

4. Halliburton $HAL is still 65% above its 2016 lows.

5. Daily three bar surge usually signals near term exhaustion.

The bottom line is, Halliburton Company (NYSE:HAL) has a chart that signals major downside in the next few weeks. Smart moving is selling while dumb money is buying. Don't be the dumb money.

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